The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-10-13
MiTKIEwICZ's SCHEME.
The Philadelphia Capitalists Who Are
az the Back of II.

Philadelphia Special To the New York Herald.
A member of the firm Of Barker Brothers
h Co, the bankers who have been instru.
mental In securing the concessions recently
granted by the Chinese government 10 the
syndicate Of Philadelphia capitalists, said to-
day that he was now in n position TO deny
positively the published reports that the
Chinese government had withdrawn from
tlr arrangements. II has not revoked the
concessions and has notified the Chinese en-
voy aud the United States government 10
that effect. A letter was received ycster-
day by Wharton Barker, who i NJ the
head Of the syndicate. from Secretary
Of state Bnyard. Mr.. Barker hal written q
letter 10 the Secretary Of state, asking him
whether hc had been notified by the Chinese
government that the concessions had been
revoked. In his reply Mr.. Bayard wrote
that bo had received no communication on
the subject, either from the Chinese govern
ment or from the United States minister Ia
China, and that he knew nothing whatever
about the alleged revocation VI the cOnces-
sionS.
The full detail, 81 the scheme, which Is
one uf the most gigantic ever conceived,
either by American cor Eur pcpn capitalists,
will not be given Ia the public Tor some
time, because the promoters are fearful that
English or German capitalists will pick out
some possible ilaw in the arrangements aud
invoke the aid cf their respective powcrs, or
Of the Chinese government, In an attempt 10
block the scicinc.
The scheme was uufoldcl To the Herald
correspondent today by one ut the members
OF the syndicate.
The concessions have been granted 10 a
syndicate of Chinese and American capital
ists, who have formed a "hlind pool with a
0a.HUaaHswN .WUWHNuN IL an NNN ma no Ill.
amount hall, or SiO,OOO,OOO, Is held by the
Chinese. aud the remaining half by the
Americans.
A stock company known rs the Oriental
American company has been formed. The
SiO,Olo.OOO allotted Ia America has been
divided into twenty shares, each of which
has been apportioncd'to u Philadelphia CAPT.
talist.
The gentlemen who have been let in ON
the ground floor of the enterprise arr
friends uf Wharton Barker, aud have been
associated with him IN various enterprises.
About hall Ut tlc number are heavily inter
cstcd IN the Investment company, II phila.
dclphia, a trust company having u capital Of
SiUll,Opp.
Among the members Of the syndicate are
Wharton larkcr, Samuel l.. Shiplry, prcsi-
dent of the Pruyidcnt life and trust com.
pany; Hamilton Dission, the wealthy saw
manufacturer aud political "buss." Joseph
Wharton, u wealthy retired capitalist John
Wnn1mnkcr, the well known merchant;
Henry &. Gibson. the retired whisky mcr.
chant. aud Gcourc Phillcr, the president 81
the Fin national bank, United ga- improve.
mcnt company, and other enterprises.
The nominal amount subscribed by each
Of the twenty capitalists connected with the
syndicate Is SJO,OOO, but the actual amount Is
much less. one 81 the subscribers, the prs.
idcnt ~ "a prominent trust company IN this
city. recently sold a fourth share Of his i'm
tcrrst In the syndicate for 5000. The pur.
chaser was n prominent retired capitalist.
who could not get Ia ON the ground floor Of
the enterprise, and who took this means of
securing an interest Ia the original conccs-
siOnS.
A bank having 10000 900 tools will. as has
ALREADY been announced, be established In
China. There will he branches in all the
principal cities aud seaport towns. This
hank will be- established by the aid Of Chi
ncsc and American capital, and will receive
its charter FROM the Chinese government.
II will differ from United States national
banks In that IL will be empowered to coin
money, build railroads and conduct various
other operations which the syndicate CON
templates undertaking.
The directory of the bank will be composed
Of Chinese and American tinancicr, Whnr.
ton Barker, Hamilton Disston, John Wanna
maker and otlicrs being mentioned ns proba-
BILE members ~ the board.
The preliminary operations for the estab-
lishmont Of the Chincsc-Amcrican bank, the
construction 81 the telephone lines, etc, win
be conducted by n corporation TO be known
as the Finance company.
IL will be organized under the State laws
and will have n capital OF $,0O0,OoO. The
details have already been arranged and most
OF the necessary capital has been subscribed.
The subscribers 90 the 'blind pool" or most
OF them, are interested In the new company.
IL will begin operations in a few months,
and Wharton Barker will then 70 TO China
and set the machinery in motion.